Arkansans Get Your Tax Credit for Political Contributions

Bill Smith, ARRA Editor: Fellow Arkansas, let Arkansas help you with your political contribution! Arkansas taxpayers can receive a $50 credit, or $100 if you file jointly, on your state income taxes for money contributions to recognized political organizations and candidates in the state of Arkansas.

(a) Pursuant to regulations to be adopted by the Department of Finance and Administration, a credit against individual Arkansas income taxes shall be allowed for money contributions made by the taxpayer in a taxable year to one (1) or more of the following:
(1) A candidate seeking nomination or election to a public office at an election or to the candidate's campaign committee;
(2) A small donor political action committee.
(3) An approved political action committee, or
(4) An organized political party.
(b) The credit allowed by subsection (a) of this section shall be the aggregate contributions, not to exceed fifty dollars ($50.00) on an individual tax return, or the aggregate contributions, not to exceed one hundred dollars ($100) on a joint return.
(c) Credits for contributions qualifying under this section and made prior to April 15 in a calendar year may be applied to the return filed for the previous taxable year. [Arkansas Legal Reference]

Again, it's a great way to reduce your tax liability while showing support for Republican political organizations and candidates in the state. To take advantage of the tax credit, it is easier to remember to give within the calender year. However, contribution prior to April 15 in a calendar year may be applied to the return filed for the previous taxable year. Note, the tax credit does NOT apply to contributions to candidates for the US President, US Representatives or US Senators or to any other entities or persons outside of Arkansas which includes the National political parties and national political action committees. The goal is Arkansas money for Arkansas candidates.

With this great opportunity, everyone can contribute more because Arkansas will cover via the "tax credit" 100% of your first individual political contribution of $50 or $100 per married couple per year given within Arkansas. That means you can give more because you will get back the amount identified previously. Who said Arkansas isn't progressive? Not sure where to contribute? Watch your newspapers for announcements by Republican candidates. Check with your local Republican County Committee to learn who is running as a candidate. Consider giving directly to the Republican Party of Arkansas, your local Republican County Committee, or Republican Women's or Men's Club. Be careful that the organization that you are giving to is an official part of the Republican Party of Arkansas and has a PAC that can give money to candidates. Put Arkansas Tax dollars to work. If you don't, other will!

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